Value Added Tax is a system that allows taxpayers to self-assess the tax they owe. The first value added tax in the world was introduced in France in 1954. South Korea was the first Asian country to introduce value added tax. On April 1, 2003 , value added tax was introduced for the first time in India in the state of Haryana. On April 1, 2005, when Dr. Manmohan Singh was the Prime Minister, the Central Government decided to implement value added tax throughout India. Subsequently, a high-powered committee on value added tax was formed in India and value added tax was implemented. Value added tax was merged with GST on July 1, 2017.
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